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Spain’s economic recovery to continue as long as virus is contained, says Economy minister

The Spanish economic recovery seen in the third quarter is poised to continue as long as the virus pandemic is contained, Economy Minister Nadia Calvino said on Thursday.

Spanish gross domestic product expanded at a record pace of 16.7% in the third quarter from the previous one, after the lifting of a nationwide lockdown in June allowed the economy to begin recovering from its deepest ever recession. The GDP is still 8.7% smaller than a year ago.

However, the Spanish authorities, like in other countries in the region, have imposed new restrictions to the economic activity over the past weeks in a bid to slow the coronavirus contagion.